Argenx to Acquire Forte Biosciences for $2.2B
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- Argenx announced Monday it will acquire Forte Biosciences for $2.2 billion in cash, continuing the biotech sector's acquisition run as even midsize companies hunt for pipeline targets.
- The deal values Dallas-based Forte Biosciences at $77 per share — a 41% premium to its Friday closing price.
- Argenx, whose main operations are in Belgium, has become a top immunology success story with its approved drug Vyvgart.
- Vyvgart is approved to treat generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, and has delivered steady sales increases as its label has been widened to cover more patients.
- The acquisition marks Argenx's push to broaden its immunology portfolio beyond Vyvgart's current indications.
Why it matters: Argenx is paying a 41% premium ($77/share over Forte's Friday close) to bolt on pipeline depth, signaling that midsize immunology players are flush enough to write nine-figure checks. With Vyvgart already approved for two autoimmune diseases and generating steady sales, Argenx is reinvesting franchise cash into a new pipeline leg rather than relying solely on label expansion.
